9th Jan 2025. 9.07am
Regency View:
Update
Regency View:
Update
GlobalData rally amid strategic acquisition spree
GlobalData (DATA) have had a strong start to the year with the shares rallying following the completion of several strategic acquisitions that bolster its capabilities and market presence.
Most recently, the Group finalized its acquisition of Deallus, a competitive intelligence solutions provider with a 20-year track record in the global life sciences sector. Deallus brings expertise in key therapeutic areas such as Oncology, Neuroscience, and Cell & Gene therapy, enabling GlobalData to deepen its relationships with major pharmaceutical brands and deliver enhanced value to its clients.
This acquisition is part of a broader M&A strategy, with Deallus being the fourth addition in H2 2024, alongside Business Trade Media International, LinkUp, and Celent. These transactions, completed on December 31, 2024, were supported by GlobalData’s newly secured debt facilities. Together, they reflect the Group’s commitment to expanding its competitive intelligence and analytics capabilities across diverse sectors.
CEO Mike Danson highlighted that integrating Deallus strengthens GlobalData’s position in the healthcare space, enhancing its ability to provide comprehensive solutions to clients navigating the complexities of the industry. The Group is set to provide further details on the impact of these acquisitions in its FY24 results update on January 14, 2025.
DATA Daily Candle Chart
Filtronic surprises the market with upgraded full-year outlook
Filtronic (FTC) ended the year on a high, delivering a solid trading update that points to a strong first-half performance for the six months to 30 November 2024.
The Group reported significant growth in both revenue and profits, driven by robust customer demand across its core markets, including aerospace, defence, space, and telecoms infrastructure. The pull-forward of customer orders provided an extra lift, prompting the Board to raise its full-year expectations beyond current market forecasts.
This update is a testament to Filtronic’s ability to deliver in high-growth sectors where demand for innovation remains strong. The company’s agility in managing supply chains and meeting client needs has been key to maintaining momentum. It’s also worth noting how well they’ve positioned themselves to take advantage of emerging opportunities, with this performance setting the stage for what could be a very strong second half.
CEO Nat Edington struck an optimistic tone, stating, “We are delighted with the continued momentum that we have achieved and look forward to focusing on delivering these increased expectations over the remainder of the year.” Confidence is clearly high at Filtronic, and with good reason. Their focus on execution and growth has them well-positioned to surprise the market further as the year unfolds.
FTC Daily Candle Chart
Two potential acquisition offers see Team Internet take-off
Shares in Team Internet Group rallied on Tuesday following the confirmation that the company has received two separate acquisition proposals.
The approaches, from TowerBrook Capital Partners and Verdane Fund Manager, each offer 125 pence per share in cash, with an option for shareholders to elect for an unlisted equity alternative. These bids come after earlier offers from the same parties were rejected by the Board, which deemed them undervaluing the company and its future potential.
The news has sparked significant market interest, reflecting optimism about the company’s valuation and prospects in light of the competing bids. Both proposals remain subject to pre-conditions, including due diligence, financing arrangements, and the finalisation of documentation. While the Board is actively reviewing the offers with its advisers, it has maintained only limited engagement with the bidders at this stage.
The clock is now ticking, with both TowerBrook and Verdane required to announce a firm intention to make an offer or withdraw by 5 pm on 4 February 2025, unless an extension is granted by the Takeover Panel. While there is no certainty of a firm offer, the market’s reaction suggests investors are closely watching developments, anticipating a possible bidding war or improved terms in the weeks ahead.
TIG Daily Candle Chart
Serica Energy targets production recovery in 2025
Serica Energy (SQZ) reported an average production of 34,600 boepd for 2024, reflecting challenges at the Triton and Bruce hubs.
Triton operations were hampered by issues with the gas export compressor, which has now been successfully restarted after extensive remedial work, with full production ramp-up expected in early 2025. Similarly, short downtime at Bruce impacted output, though steps have been taken to enhance production reliability.
As of early January 2025, production has risen to 46,400 boepd, bolstered by the phased restart of Triton and new wells such as Gannet GE05, with further contributions expected from EC1 in Q1 and EV02 in Q2 2025. Serica’s CEO, Chris Cox, acknowledged the second-half underperformance but stressed the company’s commitment to improving maintenance and operational resilience, particularly with the return of two compressors at Triton in Q1.
A live investor presentation is scheduled for 21 January 2025, where Serica will provide further guidance for 2025 and address questions from shareholders. The update highlights Serica’s focus on leveraging new wells and operational improvements to enhance performance and mitigate production vulnerabilities.
SQZ Daily Candle Chart
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